Dan White says...

If money and supply were no option, as it shouldn't be on high end stuff,
would you still prefer a plywood veneer?

The answer is definitely yes in some cases. For the back panel of a
bookcase for example, why use anything else? Plywood wins in every
category in an application like that. It's stable, and that is a very
important thing for a large panel. It stands a better chance of keeping
its shape over the long haul. You don't have to engineer in tricks to
allow for expansion and contraction. It provides a surface of uniform
color and grain. Have you ever seen walnut plywood? It is absolutely
gorgeous. Color and grain matching of large areas with solid wood is an
exercise in futility for the most part. Show me one case where money
and supply are not factors. Where are you going to find enough ebony to
make a banquet table? No matter how high-end the product, cost is
always a factor. If it wasn't, then it would be art, not craftsmanship,
and only one of anything would be made. DaVinci only produced one Mona
Lisa, but Stradivari made over 1,100 musical instruments. Are you
beginning to see the difference? If high end was the same thing as
money being no object, then every piece of high end woodwork should be
covered with carvings, inlays and marquetry. But who is going to pay
for that? Nobody I know, not even most millionaires. Like anything
else, high end is a relative thing.

Some woods are unique, like if it has curly figure, and a veneer over
plywood not only means it will cover more area, but you can bookmatch
pieces for an even better effect. If the wood isn't very strong or
stable, and some figured wood is not, then you get the strength and
stability of plywood to go with the look of the wood. Plywood is high
end compared to particle board and MDF, and really cheap furniture
seldom contains plywood. But it isn't even particle board or MDF that
is the biggest problem with most cheap furniture, it is the design and
how it is used. You can buy a home entertainment center at Wal-Mart for
$100 that will sag if you use it as advertised, but I could make one out
of MDF that would keep its shape, because I would use thicker material
and support it where it was needed.